Brent crude, the international standard, remained stubbornly over $100 a barrel on Monday.

Brent crude, the international standard, remained stubbornly over $100 a barrel on Monday.

Iran’s top diplomat says the key Strait of Hormuz is only cut off for vessels of the United States, Israel and their allies.

Brent crude price climbs as operations suspended at Shah gasfield in UAE after Iranian strike

Oil prices advanced on Tuesday as energy market participants monitored Middle East supply disruptions.

If the disruptions from Tehran's attacks keep oil and gas prices high for long, they could create a debilitating wave of inflation for the global economy.

Brent crude, the international benchmark, rose to near $114 per barrel, up from under $73 per barrel on the eve of the war.